Program Overview
Accredited by the Institute and Faculty of Actuaries, the program allows students to potentially exempt two professional exams. Graduates typically enter the financial services industry, particularly in insurance and pensions, as actuarial trainees or risk analysts.
Program Outline
Degree Overview:
The MSc in Actuarial Science at the University of Strathclyde is designed to provide students with a strong foundation in the statistical concepts, models, and techniques used in actuarial calculations, their computer implementations, and the financial and economic contexts of these calculations. The program is an innovative cross-faculty alliance between the Strathclyde Business School and the Faculty of Science. The course is intended as a conversion course, teaching material in statistics, economics, and finance. It does not currently include specialist actuarial mathematics content (which will be studied in the actuarial professional examinations).
Outline:
Semester 1
- Principles of Finance (20 credits)
- Foundations of Probability & Statistics (20 credits)
- Inference & Regression Modelling (20 credits)
- Fundamentals of Macroeconomics (10 credits)
- Fundamentals of Microeconomics (10 credits)
Semester 2
- Spatial Statistics (10 credits)
- Behavioural Finance (10 credits)
- Security Analysis (10 credits)
- Portfolio Theory & Management (10 credits)
- Risk Management for Banks (10 credits)
- Financial Econometrics (10 credits)
- Financial Stochastic Processes (10 credits)
- Quantitative Risk Analysis (10 credits)
- Risk Analysis & Management (10 credits)
Semester 3
- Actuarial Science Summer Project (40 credits)
Assessment:
The form of assessment varies from class to class. For most classes, the assessment involves both coursework and examinations.
Teaching:
Classes are delivered by a number of teaching methods:
- lectures (using a variety of media including electronic presentations and computer demonstrations)
- tutorials
- computer laboratories
- coursework
- projects Teaching is student-focused, with students encouraged to take responsibility for their own learning and development. Most graduates enter the profession by joining a company as an actuarial trainee or risk analyst at the same time as studying for professional exams. Most trainees begin their careers in the financial services industry, particularly in the traditional employment areas of insurance and pensions.
Other:
- The program is accredited by the Institute and Faculty of Actuaries (IFoA).
- Students reaching a sufficiently high level in core classes will be eligible for exemption from two of the professional examinations of the IFoA, namely CS1 and CB2.
- Students may be able to undertake an industrial-based MSc project, mostly provided by practising actuaries. This takes place in the third semester of the course between June and September. The placement may be based in the UK or in another country.
Overview:
- Founded in 1796 as Anderson's Institution
- Received its Royal Charter in 1964, becoming the University of Strathclyde
- Consistently ranked among the top 10 universities in the UK for engineering and technology
- Home to the Advanced Forming Research Centre (AFRC), a world-leading research center in metal forming
- Notable alumni include Sir James Black (Nobel Prize in Physiology or Medicine), Sir David Murray (former CEO of Rangers Football Club), and Dame Jocelyn Bell Burnell (astrophysicist)
Student Life:
- Over 23,000 students from over 100 countries
- 150+ student clubs and societies, including sports teams, cultural groups, and academic societies
- Student support services include counseling, health, and disability support
- Campus facilities include a sports center, library, and student union
Academics:
- Offers a wide range of undergraduate and postgraduate programs in engineering, science, business, law, and social sciences
- Faculty includes world-renowned experts in their fields
- Teaching methodologies emphasize hands-on learning and industry engagement
- Academic support services include tutoring, writing centers, and language support
- Unique academic programs include the Strathclyde MBA, which is ranked among the top 100 MBAs in the world
Top Reasons to Study Here:
- Excellent reputation for teaching and research, particularly in engineering and technology
- Strong industry connections and opportunities for internships and placements
- Specialized facilities such as the AFRC and the Strathclyde Institute of Pharmacy and Biomedical Sciences
- Vibrant student life with a diverse and inclusive community
- Located in the heart of Glasgow, a vibrant and cosmopolitan city
Services:
- Counseling and mental health support
- Health center with a range of medical services
- Accommodation services with a variety of on-campus and off-campus options
- Library resources with over 1 million books and journals
- Technology support including IT services and free Wi-Fi
- Career development services with support for job searching, CV writing, and interview preparation